Electric energy is supplied to recharge electric vehicles at various residential and commercial locations using electric vehicle supply equipment, or EVSEs. The market for electric vehicle supply equipment was worth around USD 3,897.5 million in 2022, and it will reach USD 9,426.2 million by 2030, as per P&S Intelligence.
Since AC charging is the most popular way to charge electric vehicles with plugs, AC chargers predominate in the market. The output power of the charging point and the convertor's ability to convert the power to DC both affect how quickly batteries charge.
These chargers have minimal manufacturing, installation, and operating costs, which contributes to their widespread adoption and increased popularity for general day-to-day charging. For instance, there are 806 thousand AC charging outlets among the approximately 1.4 million EV charging stations in China.
The private group, however, represents a greater industry share. The increased use of home chargers around the world is to blame for this. Charging an electric vehicle takes a long time. As a result, the majority of clients prefer private or home charging because they are simple to set up and may be used overnight.
Batteries for EVs may be charged quickly using DC fast chargers. Additionally, these chargers don't require the onboard converters that are located inside the cars to convert the electric current.
More DC fast chargers are being installed in public and commercial locations thanks to rising range anxiety between electric vehicle owners and the electrification of vehicles, which is being supported by both private and public entities.
Browse Full Report Electric Vehicle Supply Equipment Market Segments, Top Key Players, Drivers and Trends
Comments